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Nazara Tech shares plunge nearly 13% as gaming Bill drags sentiment
The draft Bill, cleared by the Union Cabinet on Tuesday, is likely to bar 'offering, aiding, abetting, inducing, or otherwise in the offering of any online money gaming service and declares it as an offence'.
However, Nazara Tech clarified that the company has no direct exposure to RMG businesses. In an exchange filing, it said it has indirect exposure through its 46.07 per cent stake in Moonshine Technologies (PokerBaazi). Since Nazara Tech does not have majority stake or exercise control in the firm, Moonshine's revenue is not consolidated in its financial statements and has no impact on the reported revenue, it said. The contribution to PAT by Moonshine as a share of profit and loss by associates was negative in the April-June quarter. Nazara Tech invested ₹805 crore in Moonshine through a mix of cash and stock and also holds compulsory convertible shares worth ₹255 crore.
The BSE Sensex closed 0.26 per cent higher, extending gains for the fifth day.
Ola Electric shares zoom 19% on rare earth assurance
Shares of Ola Electric rallied 19 per cent on Wednesday, driven by a sudden burst of buying interest amid reports that China has assured India of addressing concerns over supplies of rare earth magnets. The stock ended the session at ₹53.32, taking its gain for the week to 29 per cent. Trading activity was exceptionally strong, with volumes soaring to 1.2 billion shares, nearly 20 times the calendar year 2025 average daily volume of 65.7 million shares. However, despite the sharp up move in recent sessions, the counter remains a laggard having corrected 37.8 per cent year-to-date.
Regaal Resources gains 30% on trading debut
Regaal Resources, a manufacturer of maize specialty products, saw its market value jump nearly 30 per cent during its trading debut. After hitting a high of ₹145.7 and a low of ₹130, the stock ended at ₹132, up ₹30, or 29.3 per cent, over its issue price of ₹102 on the NSE. At the last close, Regaal Resources was valued at ₹1,355 crore. The company's ₹306-crore initial public offering had garnered nearly 160 times subscription.
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